2010 March 22 | The Profit Motive

Posts on ‘March 22nd, 2010’

KPIG Radio March 22

Mar 22nd, 2010

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The suit alleges amongst other items that the bonds were sold using fraudulent statements at a number of different levels. The only surprise here is how come the credit ratings agencies aren’t included as well.

About My Blog

Hi and welcome to The Profit Motive, I’m your host Caleb Lawrence. Once upon a time in America the media acted as the watchdog of the corporations and the state. In the modern era it’s all about ratings and profits, opinion has been substituted for news and frequently is presented as fact. Much like my daily radio show on KPIG 107.5 FM in Santa Cruz California and KPYG FM 94.9 Cayucos/San Luis Obispo California. A thousand Blogs were able to spot the current problems and many began discussing it years before it reached crises proportions. While there were exceptions, and these exceptions are becoming more common, the mainstream media failed to get it and largely continue to do so.

The Disclaimer

This Blog is for informational purposes only, and is not to be construed as a recommendation or solicitation to purchase or sell any investment product or service. It is not to be relied upon as investment, tax, legal, accounting or other advice by you or any third party. You should seek relevant professional counsel prior to making any decision of an investment, tax, finance or legal nature prior to making any type of commitment or agreement. Further the views and opinions expressed here are solely and completely those of Caleb Lawrence a/k/a Caleb Lawrence Registered Investment Adviser Inc. Any Internet links to other websites and or Blogs or other forms of electronic communication are for your convenience and enjoyment only. Caleb Lawrence and Caleb Lawrence Registered Investment Adviser Inc. do not endorse, and expressly disclaim liability and/or responsibility for, the content or information contained on any other Blog or website.

Food For Thought

March 2010
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"There are two ways to conquer and enslave a nation. One is by the sword, the other is by debt."
John Quincy Adams
1735-1829

"Speaking the truth in times of universal deceit is a revolutionary act" - George Orwell

-In economics, the majority is always wrong.
John Kenneth Galbraith

“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” – Mark Twain

"The last duty of a central banker is to tell the public the truth."
Former Fed Governor Alan Blinder 1994

Ben Bernanke back on October 31, 2007 (when the housing and subprime crisis were going to be “contained” — remember that one?):
“It is not the responsibility of the Federal Reserve - nor would it be appropriate — to protect lenders and investors from the consequences of their financial decisions.”

Worth Reading